This quiz works best with JavaScript enabled. Home > Class 11 > Class 11 Business Studies Chapter 10 International Business – Quiz 46 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 11 Business Studies Chapter 10 International Business Quiz 46 (25 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. It is important to study international business because you may work for a firm that is owned by a corporation that is headquartered in another country A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 2. A global corporate form based on geographic regions is most suitable when: A) Products require heavy customization for local markets. B) The firm sells only standardized products. C) Centralized decision-making is most important. D) There is no need for regional managers. Show Answer Correct Answer: A) Products require heavy customization for local markets. 3. More value customers place on a firm's products the lower the price the firm can charge for those products. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: B) False. 4. A is a tax imposed by a government on imports or exports of goods. A) MFN. B) Tariff. C) Regional Economic Integration. D) Free Trade Area. Show Answer Correct Answer: B) Tariff. 5. When a country can create products at a lower cost than other countries, this is a(n) ..... advantage. A) Comparative. B) Absolute. C) All the above. D) None of the above. Show Answer Correct Answer: B) Absolute. 6. The degree of mobility of factors like labour and capital is generally ..... between countries than within a country. A) Less. B) More. C) Equal. D) Sufficient. Show Answer Correct Answer: A) Less. 7. Company A entered the production of office software before its competitors. Because of this, the company's products are more familiar among and favored by customers. This situation exemplifies the ..... A) First mover advantage. B) Diminishing marginal returns. C) Economies of scale. D) Constant marginal returns. Show Answer Correct Answer: A) First mover advantage. 8. Transaction risk occurs during the settlement of international transactions, such as import and export activities. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 9. Any commercial transaction that crosses the borders of two or more nations is known as A) International business. B) Global manufacturing. C) Domestic marketing. D) Market segmentation. Show Answer Correct Answer: A) International business. 10. What message allows immediate action A) "Proceed with shipment". B) "Proceed when everything is ready". C) "Proceed with the shipment on 18th march after the payment is confirmed". D) "Let's proceed soon". Show Answer Correct Answer: C) "Proceed with the shipment on 18th march after the payment is confirmed". 11. How often does completely free trade exist? A) Frequently. B) Always. C) Seldom. D) Never. Show Answer Correct Answer: C) Seldom. 12. What is the effect of subsidies on domestic producers? A) They limit production. B) They encourage exports. C) They raise prices for consumers. D) They increase production costs. Show Answer Correct Answer: B) They encourage exports. 13. Which of the following regions describes the euro zone? A) A region that comprises EU members without a common currency. B) A region that comprises all EU members. C) A region that has passport-free traveling. D) A region that has a common currency. Show Answer Correct Answer: D) A region that has a common currency. 14. A political system in which one political party holds all the power and prohibits members of other parties from participating is a A) Democracy. B) Totalitarian. C) Exclusive system. D) None of these. Show Answer Correct Answer: B) Totalitarian. 15. To internationalize A) Internationaliser. B) Globalizer. C) Localizer. D) Regionalizer. Show Answer Correct Answer: A) Internationaliser. 16. Which is the right sequence of stages of Internationalization A) Domestic, Transnational, Global, International, Multinational. B) Domestic, International, Multinational, Global, Transnational. C) Domestic, Multinational, International, Transnational, Global. D) None of the above. Show Answer Correct Answer: C) Domestic, Multinational, International, Transnational, Global. 17. Corporate Social Responsibility is: A) A business approach that contributes to sustainable development by delivering economic, social and environmental benefits for all stakeholders. B) The process of maximizing profits without regard for social or environmental impact. C) A government regulation that all companies must follow strictly. D) An advertising strategy to increase product sales only. Show Answer Correct Answer: A) A business approach that contributes to sustainable development by delivering economic, social and environmental benefits for all stakeholders. 18. Corruption has been a problem in almost every society in history and continues to be one today. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 19. It is necessary to fill ..... copies of Bill of Entry. A) Two. B) Three. C) Four. D) Five. Show Answer Correct Answer: B) Three. 20. Which countries are part of the USMCA (formerly NAFTA) agreement? A) USA, Mexico, Canada. B) USA, Brazil, Argentina. C) Canada, UK, Australia. D) Mexico, China, India. Show Answer Correct Answer: A) USA, Mexico, Canada. 21. Goods and services sold to other countries are called A) Imports. B) Exports. C) Balance of trade. D) Tariffs. Show Answer Correct Answer: B) Exports. 22. Which of the following is the reason why most economists prefer Heckscher-Ohlin theory to Ricardo's theory? A) Heckscher-Ohlin stresses on the differences in productivity between nations. B) Ricardo's theory considers factor endowments to describe national competitiveness. C) Heckscher-Ohlin theory makes fewer simplifying assumptions. D) Ricardo's theory considers the law of marginal returns. Show Answer Correct Answer: C) Heckscher-Ohlin theory makes fewer simplifying assumptions. 23. What is the most common mode of international business for selling goods to other countries? A) Licensing. B) Exporting. C) Franchising. D) Outsourcing. Show Answer Correct Answer: B) Exporting. 24. How do bilateral FTAs affect countries with large markets, according to critics? A) They allow these countries to use their bargaining power more effectively. B) They weaken their economic influence. C) They create a single currency. D) They eliminate trade barriers completely. Show Answer Correct Answer: A) They allow these countries to use their bargaining power more effectively. 25. What is a joint venture? A) A type of business partnership where two or more parties agree to collaborate on a specific project or venture. B) A type of investment where one company purchases a controlling interest in another company. C) A type of merger where two companies combine to form a new entity. D) A type of acquisition where one company takes over another company completely. Show Answer Correct Answer: A) A type of business partnership where two or more parties agree to collaborate on a specific project or venture. ← PreviousNext →Related QuizzesClass 11 Business Studies Chapter 10 International Business Quiz 1Class 11 Business Studies Chapter 10 International Business Quiz 2Class 11 Business Studies Chapter 10 International Business Quiz 3Class 11 Business Studies Chapter 10 International Business Quiz 4Class 11 Business Studies Chapter 10 International Business Quiz 5Class 11 Business Studies Chapter 10 International Business Quiz 6Class 11 Business Studies Chapter 10 International Business Quiz 7Class 11 Business Studies Chapter 10 International Business Quiz 8Class 11 Business Studies Chapter 10 International Business Quiz 9Class 11 Business Studies Chapter 10 International Business Quiz 10 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books